Mcleod Cooperative Power Association

“The members are all the same class. The organization is a member owned electric cooperative.”

“The service territory is divided into districts. Members from that district elect their director to represent them. Directors serve a three year term.”

“If changes are made to the by-laws, the changes will be voted on by the members at the annual meeting. Each member has one vote.”

“There are no committees with authority to act on behalf of the board of directors.”

“The form 990 was reviewed by the cooperative's ceo & manager of finance prior to being presented, reviewed, and approved by the board of directors before filing with the irs.”

“When obtaining quotes or bids for purchases or contract work, it is management's responsibility to ensure that there are no violations to this policy. The conflict of interest policy applies to the directors, officers and key employees of mcleod cooperative power association, and any related individuals to the directors, officers, or key employees. It is the responsibility of the interested party to disclose any conflicts of interest. The board interprets and enforces the conflict of interest policy. If it is determined that the policy is not being followed the individual not following the policy may be sanctioned, disqualified, and/or dismissed. In the event that a conflict may occur the interested parties abstain from voting.”

“The ceo's compensation is reviewed and approved by the board of directors. Other officers and employees compensation is set by the ceo using the approved compensation system (nreca's compensate) per board policy. The board reviews the performance of the compensation system annually. The board uses comparability data and substantiates their decision in board minutes. The process described here was last completed in 2024.”

“The governing documents, conflict of interest policy, and financial statements are made available upon request.”

“Included in column "f", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan and are not current expenses of the cooperative. The estimated increase was as follows: ron meier: $9,957 steph jakel : $2,611 craig marti : $ 18,506 ryan schuette : $10,993 kevin lacourse : $6,361 emerson brady : $3,155 jared klein : $4,486 the current year expense for this defined benefit plan was as follows: ron meier : $31,468 steph jakel : $21,126 craig marti : $27,781 ryan schuette : $27,996 kevin lacourse : $25,839 emerson brady : 20,918 jared klein : $ 25,839”

“Retirement of capital credits -306,018. Heartland book to tax difference 3,587. Patronage capital credits allocated during current year 426,004.”